The Affordable Housing Programme is a priority initiative under the government which is geared towards facilitating the production of decent, safe and affordable housing for citizens of Kenya.
Under this initiative, half of the houses will be affordable, 30% will be market-rate, and the remaining 20% will be social housing. Despite some controversy surrounding the Affordable Housing Fund, which requires contributions from employees, the government aims to collect substantial funds for this housing initiative. The program, according to the government, not only promotes affordable housing but also plays a crucial role in job creation, aligning with the government’s broader economic goals
November 2nd 2023: President William Ruto has said Affordable Housing Financing has been established to ensure ordinary people have access to affordable mortgages. He disclosed that low-income earners will pay an interest rate of as low as 3 per cent a year — as compared to the market rate of 18 per cent annually — to own a house.
